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Sep 22, 2012
09/12
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CNN
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the big choice remains beyond the fiscal cliff. >> fiscal cliff holding back hiring, keeping the unemployment rate higher than it should be. >> a real difference between talking about the potential economic effect of the fiscal cliff in dealing with our debt and deficit problem, two different conversations. agree with something ben said, cannot balance the federal budget and cannot cut it based upon the discretionary budget at all. you have to address the fat where the fat is. how do you do that in ent tamts, talk about raising the age of social security and the age of medicare. >> yes, yes and yes. >> will and i agree on that. >> people live longer these days. >> can't do that in an election year. >> not at all. >> somebody always trying to get elected. >> people want their stuff. they want their stuff and they don't want to pay for it. >> let's look at some of the things with the safety net. 26% are using medicaid. 15% on food stamps, 8% are using something called the food aid for women, infants and children. 4% housing assistance and 2% receive aid to needy families. other safety nets, not
the big choice remains beyond the fiscal cliff. >> fiscal cliff holding back hiring, keeping the unemployment rate higher than it should be. >> a real difference between talking about the potential economic effect of the fiscal cliff in dealing with our debt and deficit problem, two different conversations. agree with something ben said, cannot balance the federal budget and cannot cut it based upon the discretionary budget at all. you have to address the fat where the fat is. how...
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74
Dec 27, 2012
12/12
by
FBC
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eye 74
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gerri: i want to talk about another issue with you that is a fiscal cliff going over the fiscal cliff, what will that do to housing? >> the worst case scenario in the fiscal cliff if the tax increases and spending cuts come into effect would be bad for the economy and would really hurt housing demand. even if the fiscal cliff is solved, less damaging ways to resolve the fiscal cliff, the housing market still might be affected if the mortgage interest deduction is cut back severely. right now the mortgage interest deduction cost the government roughly $100 billion per year in revenue and getting rid of that would likely increase home values particularly in more expensive areas. gerri: rehear it would put the brakes on selling and home buying in those areas. what are the issues for you? you know all the issues and housing, what are you looking for next year? >> three things have been really important, the first is the inventories of homes for sale are down sharply. that is great news for home sellers because there is less competition. bad news for buyers. demand is also up, rising rent,
gerri: i want to talk about another issue with you that is a fiscal cliff going over the fiscal cliff, what will that do to housing? >> the worst case scenario in the fiscal cliff if the tax increases and spending cuts come into effect would be bad for the economy and would really hurt housing demand. even if the fiscal cliff is solved, less damaging ways to resolve the fiscal cliff, the housing market still might be affected if the mortgage interest deduction is cut back severely. right...
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Aug 8, 2012
08/12
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FOXNEWS
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eye 117
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and how do you distinguish it from the fiscal cliff. >> the fiscal cliff, if they don't do anything, taxes will go up and spending will be cut and businesses are hunkering down. but we looked at it and we said, is that their main concern? or are they more concerned about the prospect of a second ork bottomma term? if you look at what he has promised to do in the second term, there is good reason for businesses to worry. for example, he said, i am going to raise taxes. he says, it's only on the rich. but he's admitted that he is going to raise taxes on small businesses. he says it will impact 2% of small businesses. that sounds like not very many. but when you figure that's 900,000 small businesses to see a tax increase. he also wants to raise capital gains taxes and dividend tax significantly. this will affect investments. so businesses are looking at that. they are thinking, this is not going to be good for us. he has also promised to continue to advance the regulatory machinery that has been turbocharged under his administration. and the first three years, he has put in place, regu
and how do you distinguish it from the fiscal cliff. >> the fiscal cliff, if they don't do anything, taxes will go up and spending will be cut and businesses are hunkering down. but we looked at it and we said, is that their main concern? or are they more concerned about the prospect of a second ork bottomma term? if you look at what he has promised to do in the second term, there is good reason for businesses to worry. for example, he said, i am going to raise taxes. he says, it's only...
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126
Dec 13, 2012
12/12
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CNBC
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eye 126
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all fiscal cliff related or what? fz fiscal cliff relate end again, bernanke, not
all fiscal cliff related or what? fz fiscal cliff relate end again, bernanke, not
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70
Dec 26, 2012
12/12
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CNBC
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eye 70
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cliff and hold it through the fiscal cliff or over the fiscal cliff, it damages everybody, all spectrums of income, tax brackets. it would hurt the economy. we just don't think that politicians are that dedicated or that adamant on the positions that they hold at least today. so we think we're going to -- in terms of towards the end of the year here, it doesn't look like they're going to repair this thing before new year's day but we do think that what will happen is in january they'll get their act together and we'll get something to go forward. we think the markets will respond positively. >> you do admit that things could get a whole lot worse from a market standpoint before they get better, right? >> if nothing is done, and we just do not feel at this point that knock will be done. we think that investors who are concerned that nothing will be done and the washingtonians will stick to that through the first quarter flat second quarter should be buying puts at this point. from the perspective that we see now, from the words that came out of both the president as well as the speaker of
cliff and hold it through the fiscal cliff or over the fiscal cliff, it damages everybody, all spectrums of income, tax brackets. it would hurt the economy. we just don't think that politicians are that dedicated or that adamant on the positions that they hold at least today. so we think we're going to -- in terms of towards the end of the year here, it doesn't look like they're going to repair this thing before new year's day but we do think that what will happen is in january they'll get...
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Dec 3, 2012
12/12
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CNBC
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eye 199
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more now on the fiscal cliff. one of the industries with the most at stake in the budget debate is the defense industry. in a meeting today in washington, northrop grumman ceo wes bush with a dire warning. >> it would result in across the board cuts to both defense and nondefense accounts. and the interesting thing about this is the cuts are not tied to any military strategy whatsoever. it is completely disconnected from a perspective of strategy. in essence these would be meat axe taken to our national defense budgets. >> let's go straight to the front lines of the issue. task specializes in systems, engineering and integrate. president and ceo david langstaff is with us, among the defense contractors speaking out today in washington. he joins me now on the telephone. sir, good to have on you the program. thanks for joining us. >> thank you. glad to be with you. >> what's the potential fallout for task if we go over the fiscal cliff. how would you navigate this? >> first, it's just terrible policy to go over the
more now on the fiscal cliff. one of the industries with the most at stake in the budget debate is the defense industry. in a meeting today in washington, northrop grumman ceo wes bush with a dire warning. >> it would result in across the board cuts to both defense and nondefense accounts. and the interesting thing about this is the cuts are not tied to any military strategy whatsoever. it is completely disconnected from a perspective of strategy. in essence these would be meat axe taken...
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Dec 1, 2012
12/12
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CNNW
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eye 209
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the week center on a big worry. >> this fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> we could actually go off the fiscal cliff. >> we're facing a fiscal grand canyon. >> okay. so it's a big deal. question is can these guys strike a deal? >> i've got to repeat. i've got a pen. >> meantime, damage control for u.n. ambassador susan rice out to smooth things over with this week with republicans after those benghazi talking point. >> exextremist elements came to the consulate as this was unfolding. >> it didn't work. now their talking points. >> we are significantly troubled. >> i want to say that i'm more troubled today. >> democrats shot back. >> they are not only blaming her for this intelligence report, they are trying to blame her for the actual tragic event. >> i've seen so much crazy stuff in this house could i write a book. >> or make an internet video. >> not be a true god-fearing person and be on a television show like that. >> that's actor angus t. jones, the "two and a half men" star caught slamming his own tv show. >> if you watch "two and a half men," please don't watch "two a
the week center on a big worry. >> this fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> we could actually go off the fiscal cliff. >> we're facing a fiscal grand canyon. >> okay. so it's a big deal. question is can these guys strike a deal? >> i've got to repeat. i've got a pen. >> meantime, damage control for u.n. ambassador susan rice out to smooth things over with this week with republicans after those benghazi talking point. >>...
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Nov 29, 2012
11/12
by
CNBC
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eye 213
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ben, what is your fiscal cliff strategy? what do you want to do with your money in the economy does go off the fiscal cliff? >> yeah, we were worried about that back in september, october. so even though we like the equity markets going into 2013, we wanted to hedge ourselves a little bit, so we took money out of equities. didn't just put it into cash. we put it into three areas we think are still good long term. one is we talk about emerging market equities, but i like emerging market debt. these monetary authorities are done tightening. they fought the inflationary problem that they had successfully. they're in hoed. yield curves could shift down. we stress doing it in local currency. the other areas are u.s. high yield, which i still think is valuable. we do think spreads will contract and emerging market equities as well. >> jordan, what about you? how are you preparing for what could be an eventuality where we go over the cliff and we've got to deal with higher taxes and a slower economy? a lot of people expecting reces
ben, what is your fiscal cliff strategy? what do you want to do with your money in the economy does go off the fiscal cliff? >> yeah, we were worried about that back in september, october. so even though we like the equity markets going into 2013, we wanted to hedge ourselves a little bit, so we took money out of equities. didn't just put it into cash. we put it into three areas we think are still good long term. one is we talk about emerging market equities, but i like emerging market...
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Dec 28, 2012
12/12
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CNBC
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eye 279
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dairy farmers and wynn farms facing their own fiscal cliffs in addition to the actual fiscal cliff. whatever cliff are you worried about? tweet us at "squawk on the street." we'll have your responses next. . time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. [ male announcer ] th
dairy farmers and wynn farms facing their own fiscal cliffs in addition to the actual fiscal cliff. whatever cliff are you worried about? tweet us at "squawk on the street." we'll have your responses next. . time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your...
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67
Dec 27, 2012
12/12
by
FBC
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eye 67
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>> forget the fiscal cliff. eric: forget the fiscal cliff, what about a container cliff and what that might do to the economy. a a nasty standoff between union workers and the companies could cripple the nation. unless two groups reach a deal, theyun planted strike down plano strike this weekend.if if the strike happened, some reports estimate for a billion dollars per day. >> there's no question, use the righte words, cripple the economy. the backbone of the trade on the export and import, eric. about $100 billion or more comes in and out where you have to have these strikes. co it is very devastating and could reverberate throughout thees country. food distributors, everybody would be affected by this strike if it goesrd forward. eric: what do the unions want and what is management willing to do, how far apart are these two groups? >> normally in a dispute with the unions it is about wages and benefits in this case it is not. what the unions are objecting to with reports i have been seeingu is new work rules a
>> forget the fiscal cliff. eric: forget the fiscal cliff, what about a container cliff and what that might do to the economy. a a nasty standoff between union workers and the companies could cripple the nation. unless two groups reach a deal, theyun planted strike down plano strike this weekend.if if the strike happened, some reports estimate for a billion dollars per day. >> there's no question, use the righte words, cripple the economy. the backbone of the trade on the export and...
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Dec 10, 2012
12/12
by
CNBC
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eye 174
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fiscal cliff, obviously dominant on the scene. no major events, as i see them scheduled those there will be some of the joint committee in congress on thursday, talks about some of the outcomes, should we go over fiscal cliff. and then looking beyond that, really, it's really about the euro zone and keep an eye out. we have meetings going on wednesday, thursday, friday. >> got it. chad, what about you? >> bill and mandy, three things to watch for tomorrow. as your previous guest said, wholesale inventory number. you have to watch that, if you start to see a long-term trend where the companies are building inventories, that's something more ominous to the economy. the small business index coming out tomorrow. that, of course, should show a gradual increase in its pace. and the federal reserve is starting their meetings tomorrow, so, for wednesday, we're expecting an additional $40 billion every month of additional treasury purchases to take place on the operation twist. >> jennifer, 30 seconds. what do you see tomorrow? >> yeah, we
fiscal cliff, obviously dominant on the scene. no major events, as i see them scheduled those there will be some of the joint committee in congress on thursday, talks about some of the outcomes, should we go over fiscal cliff. and then looking beyond that, really, it's really about the euro zone and keep an eye out. we have meetings going on wednesday, thursday, friday. >> got it. chad, what about you? >> bill and mandy, three things to watch for tomorrow. as your previous guest...
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48
Aug 29, 2012
08/12
by
CNBC
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eye 48
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number one, the fiscal cliff and what the economic impact could be if we did get a full fiscal cliff. but also, looked at the impact of various industries and specific companies. and the second thing we tackled was looking at the business outlook, the outlook, what corporates are saying now about the current outlook and how it compares to 2008. with regard to your question, if it hits in full effect and we don't think it will, we think there is a 15% likelihood that fiscal cliff will hit, and i can go to that in some detail -- >> that's fine, 15%. what would the impact be on gdp? >> for first quarter of 2013, our economist neil sauce thinks real gdp could be negative 5%. >> holy smokes! >> and potentially negative 3% for q2 before we eventually see a bit of a recovery in the fourth quarter of next year. that's significantly worse forecast than what anybody is expecting. that's not our base forecast. by the way. >> sure. what do you do in that case? give me a good idea if you want to prepare your portfolio for that possibility. >> sure, so a couple of things. by the sector level, not t
number one, the fiscal cliff and what the economic impact could be if we did get a full fiscal cliff. but also, looked at the impact of various industries and specific companies. and the second thing we tackled was looking at the business outlook, the outlook, what corporates are saying now about the current outlook and how it compares to 2008. with regard to your question, if it hits in full effect and we don't think it will, we think there is a 15% likelihood that fiscal cliff will hit, and i...
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Dec 12, 2012
12/12
by
CNBC
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eye 249
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the world ending or the fiscal cliff? >> about the same i think. >> one could bring about the other. >> i think it's no accident they're both approaching. that's how i'm going to read the tea leaves. as you see, a mixed picture this morning. people mostly waiting on the fed decision later today. the major boards green, the ftse adding .25%. the same for the xetera dax and idex. we saw the news of monti's resignation on monday. they've recovered from then. wanted to show the ibex 35, up .3% in spain. there was an italian debt auction that went over well. that's helping sentiment. the owner of zara, one of the strongest retailers in europe, out with sales. you see that their shares are down. even though their nine-month sales figure was up 17% year on year, they said so far in the fourth quarter that figure was slowing to something in the range of 15%. so still a strong set of figures from inbitex. if you're concerned about the consumer, but not as strong as we have seen in the past. that's what's happening in spain. i want
the world ending or the fiscal cliff? >> about the same i think. >> one could bring about the other. >> i think it's no accident they're both approaching. that's how i'm going to read the tea leaves. as you see, a mixed picture this morning. people mostly waiting on the fed decision later today. the major boards green, the ftse adding .25%. the same for the xetera dax and idex. we saw the news of monti's resignation on monday. they've recovered from then. wanted to show the...
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234
Jun 1, 2012
06/12
by
CNNW
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eye 234
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i know you're not, very worried about the fiscal cliff we're coming ought, what is a bigger cliff? fiscal cliff or the economic cliff? >> well, i think it's the economic cliff. you're right. labor mobility is very tough. it's hard for people to move around because of this stagnation in home prices. can't sell your home and move where the jobs are. that's holding everybody back. to that end i think what we have to do is try and make it cheaper for employers to hire people. lower the cost. tax cuts, incentives, something to make it easier or cheaper to high people across the board that would probably be the only thing we can do in the short term. in the long term, we have to wait for the storm clouds in europe to subside and wait and see whether some of the storm clouds in the housing market, some of the other things holding us back subside here. >> how much worst would it get in europe faums awars, greece goes -- spain goes. >> we're not exporting a lot of stf to ow. >> no. >> if you were counting on italy for growth in your end market, you've been disappoint add decade now. the pro
i know you're not, very worried about the fiscal cliff we're coming ought, what is a bigger cliff? fiscal cliff or the economic cliff? >> well, i think it's the economic cliff. you're right. labor mobility is very tough. it's hard for people to move around because of this stagnation in home prices. can't sell your home and move where the jobs are. that's holding everybody back. to that end i think what we have to do is try and make it cheaper for employers to hire people. lower the cost....
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Dec 4, 2012
12/12
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FOXNEWSW
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eye 254
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the fiscal cliff? we'll examine the growing evidence that indicates this may be obama's secret plan. we'll have much more. hannity starts right here, right now. >> welcome to hannity. there are late breaking developments tonight related to the fiscal cliff battle being waged in washington. now, late this afternoon house speaker john boehner sent a letter to the president detailing a bold counter offer to the administration's plan. the g.o.p. proposal does not include a tax increase on the so-caldwell thee but does contain $800 billion in revenue through tax reform, another $600 billion in health savings and much more. all told, the net savings amount to around 2.2 trillion dollars. the white house responded to this letter by saying that the president is, quote, willing to compromise but not on the subject of making job creators pay more in taxes. however, what our tax and spend commander-in-chief fails to understand is that putting money into the hands of you, the american people, is the single best wa
the fiscal cliff? we'll examine the growing evidence that indicates this may be obama's secret plan. we'll have much more. hannity starts right here, right now. >> welcome to hannity. there are late breaking developments tonight related to the fiscal cliff battle being waged in washington. now, late this afternoon house speaker john boehner sent a letter to the president detailing a bold counter offer to the administration's plan. the g.o.p. proposal does not include a tax increase on the...
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Dec 28, 2012
12/12
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CNBC
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. >>> there is a full cornucopia of cliffs on this fiscal friday. the president plans to pop another tax proposal on congress, but will it pass? the clack is ticking. latest ahead. >>> so what would a cliff jump really mean for american business? you will hear directly as we reconvene our exclusive small biz all-star panel. >>> plus, call it the retail hu "hunger games." three companies that may not survive. >>> predictions 2013. big calls for the new year, mandy. >>> bring it on. the s&p 500 is on track for a fifth straight decline. some of the hope does seem to be coming out of the market of late for a deal. of course, there could still be time. nonetheless, what we have seen is a drop of 1.3% so far this week. indead, the s&p's longest losing streak in three months. even the good news on home sales. not helping the three major averages which are on pace for their biggest weekly drop in six weeks. keep in mind, many investors are still away for the holiday shortened week. volume is light. that does tend to exacerbate market swings. let's get down
. >>> there is a full cornucopia of cliffs on this fiscal friday. the president plans to pop another tax proposal on congress, but will it pass? the clack is ticking. latest ahead. >>> so what would a cliff jump really mean for american business? you will hear directly as we reconvene our exclusive small biz all-star panel. >>> plus, call it the retail hu "hunger games." three companies that may not survive. >>> predictions 2013. big calls for the...
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Dec 27, 2012
12/12
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MSNBCW
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eye 134
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people seem to think the fiscal cliff is fix the debt. the problem with the fiscal cliff, the thing we're trying to avoid, the actual danger to the economy, is that we will get too much deficit reduction too quickly. if reducing the deficit was what the economy needed we could go right off the cliff and leave it there. you can see it in this graph, that line going down. that is the fiscal cliff, we went over our deficit problems, gone baby, totally, totally gone. one thing the fear of the fiscal cliff shows by the way, in the fox hole, everyone's a kinsian. everyone agrees. that is number one. too much austerity way too quickly. president obama is not asking for that much in taxes. it's worth getting a bit of perspective in here. you'll be shocked to know, we got a graph for that. here's what happens if we go over the cliff. you get more than $5 trillion in tax increases off the bat. and now here's what happens if we pass the sainted simpson bowles plan. you've heard of the plan. they have 2.6 trillion in tax increases. president obama's
people seem to think the fiscal cliff is fix the debt. the problem with the fiscal cliff, the thing we're trying to avoid, the actual danger to the economy, is that we will get too much deficit reduction too quickly. if reducing the deficit was what the economy needed we could go right off the cliff and leave it there. you can see it in this graph, that line going down. that is the fiscal cliff, we went over our deficit problems, gone baby, totally, totally gone. one thing the fear of the...
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269
Nov 8, 2012
11/12
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CNBC
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eye 269
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it's the fiscal cliff over here. all those economies put together don't matter. >> no, joe, it's actually the fiscal of cliff over here, too. you'd be amazed how many times it's the first thing on everyone's lips. yesterday was one of the first times i've heard people both here and once the u.s. trading session got under way asking what is it in europe spurring the selloff because they couldn't make sense of it. so whether it was what draghi said yesterday about the weakening of the german economy or the vote in athens which is did pass, we saw the worst selling pressure in the u.s. did come from the european trading session. by the way, we did see after asian stocks follow the u.s. session, a bit of brightening of attitudes in europe. this is sort of where we started and then we paired the gains. risk went off for a time being on reports that spain may not request aid before the end of the year. spain was able to raise more funds than needed at auction and it is you now funded through the end of the year. so bizarre
it's the fiscal cliff over here. all those economies put together don't matter. >> no, joe, it's actually the fiscal of cliff over here, too. you'd be amazed how many times it's the first thing on everyone's lips. yesterday was one of the first times i've heard people both here and once the u.s. trading session got under way asking what is it in europe spurring the selloff because they couldn't make sense of it. so whether it was what draghi said yesterday about the weakening of the...
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Nov 14, 2012
11/12
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MSNBC
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what happens if we go off the fiscal cliff? what is the fiscal cliff? >> well -- >> i can't even balance a checking account. what is it? >> it's actually more like 2 1/2 cliffs because you have three things happening in the next few months. you have the bush-era tax cuts expiring. you have the obama stimulus tax cuts expiring. you've got a collection of the spending increases that were agreed last year coming into force. and you've also got -- sorry, spending cuts coming into force. and you've also got the debt ceiling in the sense that congress is going to have to get permission to issue more bonds. and those three things coming together create a very nasty shock. and essentially if you do nothing, if you let the spending cuts happen, if you have the tax cuts roll off and you have essentially tax increases, you'll get a hit that's worth 3% to 4% worth of gross domestic production, and that will almost certainly push the economy back into recession. so there's an awful lot at stake right now. what paul ryan said is very interesting because we had an edi
what happens if we go off the fiscal cliff? what is the fiscal cliff? >> well -- >> i can't even balance a checking account. what is it? >> it's actually more like 2 1/2 cliffs because you have three things happening in the next few months. you have the bush-era tax cuts expiring. you have the obama stimulus tax cuts expiring. you've got a collection of the spending increases that were agreed last year coming into force. and you've also got -- sorry, spending cuts coming into...
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Nov 8, 2012
11/12
by
WBAL
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so what exactly is the fiscal cliff? it is a nightmare combination of tax hikes and spending cuts that congress and the president agreed to. to force themselves into a compromise. but so far, they have not agreed on anything. so barring a last-minute fix at the stroke of midnight on new year's eve, the bush tax cuts expire. the alternative minimum tax kicks in. more than half of all married couples with two children would owe an additional $4,000 in taxes per year, for those with three children or more, that jumps to $4700, on top of that, the payroll tax cut would expire, so add on a 2% tax increase for most workers, with automatic spending cuts in a thousand government programs, including defense, medicare, extended unemployment benefits. everything but veteran's benefits and social security pension. congress says that action would act as a break on the economy, throwing it back into recession and could cause a market crash. >> people watching very closely is can the administration actually tackle those fiscal issues,
so what exactly is the fiscal cliff? it is a nightmare combination of tax hikes and spending cuts that congress and the president agreed to. to force themselves into a compromise. but so far, they have not agreed on anything. so barring a last-minute fix at the stroke of midnight on new year's eve, the bush tax cuts expire. the alternative minimum tax kicks in. more than half of all married couples with two children would owe an additional $4,000 in taxes per year, for those with three children...
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Dec 28, 2012
12/12
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FOXNEWSW
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>> z we're not on the verge of fiscal cliff, we have already gone over the of fiscal cliff. look at our problem with spending, how bloated our government is. we're $16 trillion in debt. something needs to be done. this year we're going to spend $165 billion more than we receive in social security. $3 we're going to spend for every 65 we receive in social security in medicare. this is absolutely -- we need to stop. this is not fair to young people. it's not fair for future generations they have to inherit this debt. something needs to be done. >> i agree. what do we do when we have personal debt? we raise our income, we want to raise our revenue and cut spending. >> we're not going to take -- >> we put it forward and we've cut spending cut $.5 trillion last year. >> where? >> i want to take money from the private sector and give it to a bunch of bureau kratz. let the money stay in the private sector. don't raise taxes when we have a slow economy. >> why are you telling me that? tell john boehner not to raise taxes. he'll raise them on all of us. the congress is on taxes. ever
>> z we're not on the verge of fiscal cliff, we have already gone over the of fiscal cliff. look at our problem with spending, how bloated our government is. we're $16 trillion in debt. something needs to be done. this year we're going to spend $165 billion more than we receive in social security. $3 we're going to spend for every 65 we receive in social security in medicare. this is absolutely -- we need to stop. this is not fair to young people. it's not fair for future generations they...
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Dec 1, 2012
12/12
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CNBC
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cliff really a fiscal slope. if they come to a compromise the politicians in washington, both republicans and democrats are going to reduce the size of deficit reduction dramatically. my argument will be let's go right down that fiscal slope. let's raise the revenue and make the cuts that have to be made which nobody in washington is willing to make. and let's take a big bite out of the deficit and restore confidence to our markets. >> that's going to kill the economy. this is one of the things i agree with. >> it will not kill the economy. >> if you do those tax increases it will. >> i want to make sure. this is a little different point. i hear you on the fiscal cliff, howard. i appreciate respect of you as much as i may disagree. what's really at stake here, one of the things at stake here, steve moore, is the idea that changing taxes, for example raising tax rates on capital and dividend and private equity firms and individuals and small business, that that doesn't matter. and what i'm saying is, when you see
cliff really a fiscal slope. if they come to a compromise the politicians in washington, both republicans and democrats are going to reduce the size of deficit reduction dramatically. my argument will be let's go right down that fiscal slope. let's raise the revenue and make the cuts that have to be made which nobody in washington is willing to make. and let's take a big bite out of the deficit and restore confidence to our markets. >> that's going to kill the economy. this is one of the...
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Nov 30, 2012
11/12
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here to explain it is fiscal cliff huxtable. >> the fiscal cliff is a conundrum that the u.s. government will face at the end of 2012. the pudding in the -- [ cheers and applause ] >> jimmy: i still don't -- i still don't know. guys, we've got a big show. we have "twilight" star robert pattinson on the show tonight. [ cheers and applause ] calm down, ladies, or i will show that picture of karl rove one more time. [ laughter ] i'm threatening. everybody's really excited that robert pattinson is here. in fact, backstage, i asked him to sign a "twilight" poster for my niece. and her name is jimmy. [ laughter ] isn't that weird? [ applause ] and, finally, google just launched a new service called free zone that will help millions of people in developing countries get internet access. not to be confused with that other internet free zone -- when your neighbor forgets to put his password on his wi-fi. we have a great show tonight. give it up for the roots, everybody! [ cheers and applause ] ♪ [ cheers and applause ] >> jimmy: we have a fun show tonight. like i said, he is a great
here to explain it is fiscal cliff huxtable. >> the fiscal cliff is a conundrum that the u.s. government will face at the end of 2012. the pudding in the -- [ cheers and applause ] >> jimmy: i still don't -- i still don't know. guys, we've got a big show. we have "twilight" star robert pattinson on the show tonight. [ cheers and applause ] calm down, ladies, or i will show that picture of karl rove one more time. [ laughter ] i'm threatening. everybody's really excited...
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Nov 8, 2012
11/12
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CNBC
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avert the fiscal cliff as bullish for gold. we are looking at relative strength in the dollar and still gold prices rallying. it tells through is still a lot of interest in this safe haven bid here for gold. we've seen that in the exchange traded funds as well withholdings in exchange traded funds, gold related exchange traded funds rising to a record level. lot of interest and inflows into gold etfs in the last week or so, also chatter about what china is going do in terms of gold etfs. will they get into this market? that could certainly increase demand as well. back to you. >>> let's get some trading action going. bob pisani is down on the floor at the new york stock exchange. hi, bob. >> i just put out a note on my trader talk blog highlighting the problem today -- that's fiscal cliff anxiety. that's the newest worry on wall street, concerns about the imfact of potentially higher taxes on an already weak u.s. economy. that's it. i don't particularly like the trading action today. we've been drifting lower and it's been very
avert the fiscal cliff as bullish for gold. we are looking at relative strength in the dollar and still gold prices rallying. it tells through is still a lot of interest in this safe haven bid here for gold. we've seen that in the exchange traded funds as well withholdings in exchange traded funds, gold related exchange traded funds rising to a record level. lot of interest and inflows into gold etfs in the last week or so, also chatter about what china is going do in terms of gold etfs. will...
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Nov 28, 2012
11/12
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MSNBCW
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. >> if not, we go off the supposed cliff. >> the fiscal cliff or slope. the bump of various height. >> it's going to sell that fiscal cliff. >>> thelma and louise might need to make room in the car for the president of the united states. at the white house today, senior obama administration officials met with liberal leaders and union officials. "the washington post" reports that one told him after the meeting, quote, would the white house go off the cliff if it's between that and compromising their core principles? i was left with the impression that they would. illinois democratic senator dick durbin spoke today at the liberal center for american progress where he said this about the possibility of going off the cliff which fears of this show know is is really more of a curb than a cliff. >> some have called let's go over the cliff and watch what happens. we know if we're not careful, it will in fact stop economic growth and hurt everyone through every income category, particularly those most vulnerable. >> what he did not say is he must not go off the
. >> if not, we go off the supposed cliff. >> the fiscal cliff or slope. the bump of various height. >> it's going to sell that fiscal cliff. >>> thelma and louise might need to make room in the car for the president of the united states. at the white house today, senior obama administration officials met with liberal leaders and union officials. "the washington post" reports that one told him after the meeting, quote, would the white house go off the cliff...
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Dec 31, 2012
12/12
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CNBC
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as we said, we are about to go over the fiscal cliff. if a deal is not reached to avoid the fiscal cli by january 2nd, automatic domestic and military spending cuts will kick in and the pentagon will be forced to cut $9 million in spending. >> if lawmakers can't avoid the fiscal cliff, they may be able to avoid a different cliff, the dairy cliff. house and senate members appear likely to extend farm legislation for a year, a deal that would keep milk prices skyrocketing in january. we were worried about $6 gallon of milk. it could keep a decades old subsidy from coming back to life. the usda would be forced to buy milk at prices well above what farmers were getting now if the subsidy was revived. it could double the price of moib to $6.12 a gallon. >> markets have been reacting to each move on capitol hill, but obviously, things at this point are looking like the dow would open down by about 7.5 points. the dow is off 67 points and the nasdaq is down 14.75 points. all the surprised given the late hour that -- >> even if something doesn't
as we said, we are about to go over the fiscal cliff. if a deal is not reached to avoid the fiscal cli by january 2nd, automatic domestic and military spending cuts will kick in and the pentagon will be forced to cut $9 million in spending. >> if lawmakers can't avoid the fiscal cliff, they may be able to avoid a different cliff, the dairy cliff. house and senate members appear likely to extend farm legislation for a year, a deal that would keep milk prices skyrocketing in january. we...
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Nov 29, 2012
11/12
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FBC
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fiscal cliff, no fiscal cliff, that will be good for gold. investors will look for a safe haven and alternative to the u.s. dollar and they will be buying these assets. kind of a word of advise. ashley: interesting. tracy: sandy, while you were at the cme last week you said guys were saying 95 to $100 on oil. that is the consensus all around. >> keep watching that guy. we're near 90 bucks again. tracy: thank you, sandra. >> thank you. ashley: investors watching the latest developments on the fiscal cliff plus new taak that the fed, guess what, will continue its bond buying programs next year. for more on the markets, i'm joined by bob pavlick, chief market strategist at banyon partners. bob, thanks so much for being here. let's get to the fed issue here. so what is what i say. they will expand or continue the program of buying assets. what impact will this have if any? >> operation twist what they call it. sell short paper and buy long term bonds in order, in an effort to try to continue to keep long-term interest rates low. really what it is
fiscal cliff, no fiscal cliff, that will be good for gold. investors will look for a safe haven and alternative to the u.s. dollar and they will be buying these assets. kind of a word of advise. ashley: interesting. tracy: sandy, while you were at the cme last week you said guys were saying 95 to $100 on oil. that is the consensus all around. >> keep watching that guy. we're near 90 bucks again. tracy: thank you, sandra. >> thank you. ashley: investors watching the latest...
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Dec 13, 2012
12/12
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CNBC
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first, i want to ask you, bob, how much of this is due to the fed as opposed to the fiscal cliff. >> i'm not discounting the fiscal cliff but i think a lot of this is sell on the news related to the federal reserve. we have seen this news before. remember, take a look at the s&p 500. i don't think it is a coincidence we hit the highs of year september 14th. that's the day after the fed meeting when they announced quantitative ease meetings. they bought into the fed meeting then started selling immediately after. we saw thmovie before and they e doing this before. two months high on the dow jones industrial, a two-month chart of the dow jones industrial average, and you will see. there are the highs. and we are drifting lower here. i put more of this on sell on the news of the fed. spike and bond yields got a lot of e-mails talking about inflation in 2013. this has not been a successful trade but number of the etfs exist out there. spider gold trust with the classic hedge against inflation. one to five-year tips. very big etf. then you can even bet against long-term treasuries with th
first, i want to ask you, bob, how much of this is due to the fed as opposed to the fiscal cliff. >> i'm not discounting the fiscal cliff but i think a lot of this is sell on the news related to the federal reserve. we have seen this news before. remember, take a look at the s&p 500. i don't think it is a coincidence we hit the highs of year september 14th. that's the day after the fed meeting when they announced quantitative ease meetings. they bought into the fed meeting then...
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Dec 5, 2012
12/12
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FOXNEWSW
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fiscal cliff, beyond the fiscal cliff. let me get to this steve. this is about including the debt ceiling. and what the president said about that in this negotiation today. >> we are not going to play that game next year. >> if congress in any way suggests they will tie negotiation to debt ceiling votes and take us to the brink of default once again, part of a budget negotiation, which by the way we have never done in our history until we did it last year. i will not play that game. because we have to break that habit before it starts. >> bret: what about that? >> well, the president had as many red lines for iran as for house republicans. i think what kirsten said is absolutely remarkable. it is about the scalp. it's about the president having made a campaign argument for the better part of 2012. so that he could run a class warfare campaign. now having to make good on that with the base of his party. the u.s. economy be damned. the republicans offered to give so much and offering precisely what erskine bowles laid out as a compromise position in
fiscal cliff, beyond the fiscal cliff. let me get to this steve. this is about including the debt ceiling. and what the president said about that in this negotiation today. >> we are not going to play that game next year. >> if congress in any way suggests they will tie negotiation to debt ceiling votes and take us to the brink of default once again, part of a budget negotiation, which by the way we have never done in our history until we did it last year. i will not play that game....
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Dec 30, 2012
12/12
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keep those pictures coming. >>> fiscal cliff, debt, and egos. how much of what is going on in washington is about what's right versus who's right? one doctor has some suggestions for the decision-makers. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. i get congested. but now, with zyrtec-d®, i have the proven allergy relief of zyrtec®, plus a powerful decongestant. zyrtec-d® lets me breath freer, so i can love the air. [ male announcer ] zyrtec-d®. behind the pharmacy counter. no prescription needed. ...and now... you! [ giggles ] ♪ the one and only, cheerios your doctor will sa
keep those pictures coming. >>> fiscal cliff, debt, and egos. how much of what is going on in washington is about what's right versus who's right? one doctor has some suggestions for the decision-makers. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you...
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Dec 28, 2012
12/12
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FBC
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the fiscal cliff could throw all its gains next year. the lauren fix, known as the car coach is here to explain why and one of my favorite topics, cars. do you think lauren can name this beautiful automobile? we'll giver her a test. what kind of car is that and test her automobile chops next. and test her's as well. is now the time to put your house on the market. top real estate expert says, yes. she is here with details. we'll challenger. we awaiting president obama. he will take the podium in a matter of minutes and will bring you a statement on the fiscal cliff live. "piles of money" is on the way. ♪ she keeps you guessing. it's part of what you love about her. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all yo
the fiscal cliff could throw all its gains next year. the lauren fix, known as the car coach is here to explain why and one of my favorite topics, cars. do you think lauren can name this beautiful automobile? we'll giver her a test. what kind of car is that and test her automobile chops next. and test her's as well. is now the time to put your house on the market. top real estate expert says, yes. she is here with details. we'll challenger. we awaiting president obama. he will take the podium...
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Nov 13, 2012
11/12
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FBC
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let's stop talking about fiscal cliffs. let's fix those problems so businesses can go about doing what business needs to do and that's dealing with the macro events of the economies, not the macro events of the governments. liz: don't you feel if you put ten business people in a room, lock the door, you guys could hammer out a solution to the fiscal cliff, but does that mean, terry, that you would accept, and i don't know nor do i really think it's relevant where you stand as far as right or left is concerned, but some tax hikes and some spending cuts, does it have to be a combination? >> well, i think speaker boehner has it right where he said we need to look at the whole tax code before we start increasing taxes. so i actually think that needs to be evaluated. so i'm not quite sure where the fiscal cliff is going to go. i'm assuming they are going to as they say kick the can down the road for another couple of months. hopefully they take that time period to lay out a foundation over what they are going to do in order for
let's stop talking about fiscal cliffs. let's fix those problems so businesses can go about doing what business needs to do and that's dealing with the macro events of the economies, not the macro events of the governments. liz: don't you feel if you put ten business people in a room, lock the door, you guys could hammer out a solution to the fiscal cliff, but does that mean, terry, that you would accept, and i don't know nor do i really think it's relevant where you stand as far as right or...
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Jul 10, 2012
07/12
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MSNBCW
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don't wait until the last minute as we approach this fiscal cliff. you're going to be hearing that phrase a lot, a fiscal cliff between now and january 1st because in addition to the tax increase scheduled for january 1st, there is also a large cut. 500 billion in defense spending scheduled to go into law on january 1st. the combination of big government spending cuts and a big tax increase is the fiscal cliff that many economists fear would be such a negative jolt to the economy that would slow down our economic recovery. so neither party, democrat or republican, wants to go off the fiscal cliff on january 1st. to avoid the fiscal cliff, not only do they have to write a new tax bill and a new defense spending bill and pass them both before january 1st. they have only 176 legislative shopping days to do it. so if you want congress to do something before january 1 and you start talking about it right now, you would not be jumping the gun. you would not be doing your christmas shopping in july. if you need congress to do something by new year's eve, do
don't wait until the last minute as we approach this fiscal cliff. you're going to be hearing that phrase a lot, a fiscal cliff between now and january 1st because in addition to the tax increase scheduled for january 1st, there is also a large cut. 500 billion in defense spending scheduled to go into law on january 1st. the combination of big government spending cuts and a big tax increase is the fiscal cliff that many economists fear would be such a negative jolt to the economy that would...
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Dec 26, 2012
12/12
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CNBC
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have you heard about the fiscal cliff? we go deeper into another cliff that's more of a threat to our economy. it is the container cliff. >>> i own maria's italian kitchen. we employ 400 people. the fiscal cliff is going to impact our business, who knows how much we can spend to increase our business and expansion may not be possible. the customers are so uncertain as to how they will spend their money that eating out may be considered a luxury. it really hinders our expansion possibilities. this is not a partisan issue. this is an american issue. the american people have been on a roller coaster for the past four years. it's time for them to get on stable ground. [ male announcer ] it's simple physics... a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis symptoms. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a d
have you heard about the fiscal cliff? we go deeper into another cliff that's more of a threat to our economy. it is the container cliff. >>> i own maria's italian kitchen. we employ 400 people. the fiscal cliff is going to impact our business, who knows how much we can spend to increase our business and expansion may not be possible. the customers are so uncertain as to how they will spend their money that eating out may be considered a luxury. it really hinders our expansion...
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Nov 13, 2012
11/12
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FOXNEWS
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they have 7 weeks to reach a deal to avoid the so-called fiscal cliff. without a compromise billions of dollars of tax increases and spending cuts go into effect on january 1st. it could trigger a double dip recession. republicans say it is not the time for tax hikes. he was held in contempt of congress for failing to turn over documents on the fox fast and furious. it is holding on to attorney general eric holder. they report today the president has asked holder to stay on for a second term. holder has agreed. holder facing criticism for reportedly knowing for months. the cia director david petraeus was involved in an fbi investigation. holder did not tell the president. investigators are trying to pinpoint the cause of the deadly explosion in indianapolis. the ex-husband of the woman whose house is believed it be at the center of the blast says the furnace might be to blame. he says the daughter texted him saying the heat was out the family was spending the night at the hotel. they were not home when the explosion rocked the south side neighborhood kil
they have 7 weeks to reach a deal to avoid the so-called fiscal cliff. without a compromise billions of dollars of tax increases and spending cuts go into effect on january 1st. it could trigger a double dip recession. republicans say it is not the time for tax hikes. he was held in contempt of congress for failing to turn over documents on the fox fast and furious. it is holding on to attorney general eric holder. they report today the president has asked holder to stay on for a second term....
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Aug 23, 2012
08/12
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MSNBC
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of just how bad the economy will be if we do go off the cliff, the fiscal cliff. today, the cbo updated its economic outlook for the future, which is really hard to do these days, because there is so much uncertainty about what government spending will look like next year, and what our income tax rates will be next year. current incomes tax rates, so-called bush income tax rates, are scheduled to expire on january 1st, and go back up to the clinton tax rates. you remember the clinton tax rates. they're the higher income tax rates with we had in place when the economy was soaring in the 1990s. and thanks to a crazy deal that republicans made with the president to raise the debt ceiling, on january 1st of next year, large automatic spending cuts will go into effect, half of which would be in defense spending. and the good news/bad news affect, according to cbo, of all of that, is that the projected deficit for next year would be cut in half. that is, obviously, the good news. the bad news is that the economy would fall back into recession, with most of the damage hi
of just how bad the economy will be if we do go off the cliff, the fiscal cliff. today, the cbo updated its economic outlook for the future, which is really hard to do these days, because there is so much uncertainty about what government spending will look like next year, and what our income tax rates will be next year. current incomes tax rates, so-called bush income tax rates, are scheduled to expire on january 1st, and go back up to the clinton tax rates. you remember the clinton tax rates....
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Dec 27, 2012
12/12
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the result of the fiscal cliff here is not risk off. it's risk protation into those areas of the investable landscape. look at emerging markets, lock at europe. they are decoupling. if anything, price is still very bull ir. i would rather listen to price. >> why do you say it's still very bullish? >> they recovered almost completely the loss which means the markets thinks tax puts will still be in play. the market is saying it's okay, you know, we've had an increase in market cap this year in the s&p 500 over $1 trillion. >> right. >> that's more than the cliff. >> let me go to my facebook friend michael carr. you speak washington ese. the house is convening. the president is -- >> doesn't it just make you sick? >> the were inthing you want to watch is eachon javers. i thought it was a perfect graphic. it's fabulous. you can't make it up. >> what do you do when you don't know what's going to happen, and you really don't. if you can get the debt limit thing right and guess how it's going to turn out or guess that it's actually going to d
the result of the fiscal cliff here is not risk off. it's risk protation into those areas of the investable landscape. look at emerging markets, lock at europe. they are decoupling. if anything, price is still very bull ir. i would rather listen to price. >> why do you say it's still very bullish? >> they recovered almost completely the loss which means the markets thinks tax puts will still be in play. the market is saying it's okay, you know, we've had an increase in market cap...